CDF reports April net profit of NT$2.88bn. Cumulative net profit by April reached NT$12.72bn & EPS of NT$0.85

May 10, 2021
Financials

China Development Financial (“CDF”) announced April results on May 10. Preliminary net profit by April hit NT$2.88bn, thanks to robust capital market liquidity that effectively boosted profit momentum for the brokerage business, along with the steady contribution from the banking arm, and the recognition of equity-method investment income from China Life. For the first four months of 2021, cumulative net profit was NT$12.72bn, and EPS amounted to NT$0.85.

KGI Bank posted April net profit of NT$453mn and January-April net profit of NT$1.53bn, citing that primary earnings momentum last month came from core interest and fee income, in addition to investment gains from financial trading activities. KGI Securities' net profit for April reached NT$1.39bn, with cumulative net profit of NT$5.59bn for the first four months of the year, thanks to the solid performances of brokerage, underwriting and proprietary businesses, which continued to capitalize on strong turnover momentum of the Taiex throughout April. On valuation gains from the disposal of investment positions, CDIB Capital posted April net profit of NT$112mn and January-April net profit of NT$1.73bn. China Life posted April net profit of NT$2.67bn and January-April net profit of NT$12.51bn.

CDF spokesperson Richard Chang turned the focus to the launch of a five-year “ABCDE Strategy” of the group earlier this year entailing five initiatives: Accelerate Digital, with an aim to ultimately become the strongest FinTech platform in the business; Become Employer of Choice, which seeks to achieve higher employee engagement and expand development; Customer Focus, with a clear goal to be recognized as our customers’ most recommended brand; Drive Growth, in order to get ahead in the industry; and Execution Excellence, seeking to deliver exceptional results for every CDF stakeholder.

Following the initial launch, the Company will roll out the terms for issuing New Restricted Employee Shares, in an effort to attract and retain talents, incentivize staff to collectively strive for business goals, and establish a link with stronger ties to the interests of employees, the company, and shareholders.

CDF believes the financial sector should take the initiative in advancing the climate agenda. The group pledges to achieve total-portfolio net-zero carbon emissions by 2045, and broadens its financial reach through investing and financing. Chang added the primary goal of the “ABCED Strategy” is to succeed in growth acceleration, digital innovation and asset allocation to fully unlock the group’s earnings potential.

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